Plexus Corp. (PLXS) vs Sanmina Corporation (SANM)

Plexus Corp. and Sanmina Corporation are both Electronic Components companies. Sanmina Corporation is the larger, with a market value of $10.1B against $6.4B — 1.6× the size. Sanmina Corporation trades at the lower P/E: 30.8× against 33.3×. Sanmina Corporation grew revenue faster over the last twelve months: 58.6% against 14.2%. Plexus Corp. has the higher net margin (4.03% vs 2.41%) and the lower return on invested capital (9.68% vs 10.7%). Across the 22 metrics below, Sanmina Corporation leads on 14 and Plexus Corp. on 8.

Valuation

Metric PLXS SANM Electronic Components median
P/E 33.30 30.82 30.82
P/S 1.34 0.74 2.84
P/B 4.03 3.73 2.93
Price to free cash flow 99.50 15.80 28.42
EV/EBITDA 19.91 13.16 16.22
EV/Sales 1.33 0.77 2.94
Earnings yield 3.00% 3.24% 1.67%
Free cash flow yield 1.01% 6.33% 0.58%

Profitability

Metric PLXS SANM Electronic Components median
Gross margin 10.04% 9.01% 33.21%
Operating margin 5.02% 4.15% 3.90%
Net margin 4.03% 2.41% 2.90%
Free cash flow margin 1.35% 4.69% 0.20%
Return on equity 12.58% 0.00% 2.60%
Return on assets 5.50% 4.12% 2.50%
Return on invested capital 9.68% 10.74% 2.28%

Growth

Metric PLXS SANM Electronic Components median
Revenue growth (TTM) 14.20% 58.56% 12.21%
EPS growth (last fiscal year) 56.11% 14.07% 42.31%
Revenue growth, 5-year CAGR 3.53% 3.18% 7.19%
Net income growth, 5-year CAGR 8.03% 13.05% 0.00%

Health

Metric PLXS SANM Electronic Components median
Debt to equity 0.18 0.79 0.13
Current ratio 1.49 1.78 2.41
Net debt to EBITDA (0.60) (1.32) 0.34

Dividend

Metric PLXS SANM Electronic Components median
Dividend yield — — 0.91%
Payout ratio — — 0.29

Size

Metric PLXS SANM Electronic Components median
Market cap 6.36b 10.12b 707.24m

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